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BOP

Type: bop • Category: indicators

Description​

Balance Of Power

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringselect the column with opening pricesno
highstringselect the column with highest pricesno
lowstringselect the column with lowest pricesno
closestringselect the column with closing pricesno

Help​

BOP (Balance Of Power)

Description​

The Balance of Power (BOP) indicator is a technical analysis tool used in financial markets to measure the strength of buyers and sellers. It is designed to identify the balance between bullish and bearish forces in the market.

What does this worker do?​

The BOP worker calculates the Balance of Power indicator based on the provided price data. It takes into account the opening, high, low, and closing prices of a financial instrument to determine the balance between buyers and sellers.

How to interpret the results​

The BOP indicator oscillates around a zero line, which represents the equilibrium point between buyers and sellers. The interpretation of the BOP indicator is as follows:

  • A positive BOP value indicates that buyers are in control, while a negative value indicates that sellers are in control.
  • A BOP value above zero suggests that the closing price is closer to the high of the period, indicating buying pressure.
  • A BOP value below zero suggests that the closing price is closer to the low of the period, indicating selling pressure.

Usage​

To use the BOP worker, simply provide the required parameters:

  • dataExp: prices data
  • open: select the column with opening prices
  • high: select the column with highest prices
  • low: select the column with lowest prices
  • close: select the column with closing prices

Indicator Visuals​

For a visual representation of how to use the BOP indicator, please see the following GIFs:

Full GIF​

[![Full GIF](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)

Short GIF​

[![Short GIF](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)

Additional Information​

The Balance of Power indicator was developed by Igor N. Kurganov, a Russian technical analyst. It is used to gauge the strength of buyers and sellers and can be used in conjunction with other technical indicators to form a trading strategy. The BOP indicator can be applied to various financial instruments, including stocks, forex, and commodities.